What is the annual interest rate charged on late payments to Healthsource Chiropractic?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
In the event such an electronic transfer of funds shall fail, for any reason, a $35 service fee will be assessed and the account re-drafted within 5 banking days from the first draft.
If the draft fails a second tim
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
Based on the 2025 Healthsource Chiropractic Franchise Disclosure Document, the document does not specify the annual interest rate charged on late payments. The document mentions a $50 late fee if the monthly amount due is not paid within 10 calendar days after the initial ACH draft. However, it does not provide information on whether interest is charged on late payments, or the rate at which it would be charged.
As a prospective franchisee, it is important to understand all potential fees and costs associated with the franchise, including those related to late payments. Not knowing the interest rate could lead to unexpected financial burdens if payments are not made on time.
Therefore, a prospective Healthsource Chiropractic franchisee should ask the franchisor directly about the specific annual interest rate applied to late payments, as this information is not detailed in this excerpt of the FDD. Understanding this policy is crucial for managing finances and avoiding unforeseen expenses.